Indian Brokers Push Back on Insurance Overhaul
India faces pushback from brokers and auto dealers over a proposed insurance sales overhaul. Regulators aim to cap commissions to lower policy costs, but industry groups warn of widespread job losses and falling revenues.
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India's insurance sales overhaul is drawing pushback from brokers and auto dealers, who warn the proposed commission caps threaten 1 million jobs. The regulatory changes aim to lower policy costs and curb mis-selling in the world's 10th largest insurance market. The friction highlights regulatory uncertainty just months after the country opened its insurance sector to 100% foreign direct investment.
